Eurcadanalysis
EURCAD: BEARISH Continuation Targeting 161.8% Fib LevelToday's candle shown us a weak BULLISH movement with no clear rejection at 1.5320 support level. As of now, it seems likely a breakout rather than a fakeout. We can see that today's candle is retesting the broken support level @1.5320 which is now the resistance level. I am expecting BNEARISH movement to continue for this pair bring price towards the demand zone which I have identified.
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
EURCAD short trade ideaPlan: wait for the price to bounce off from trendline or resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
EURCAD HammerEURCAD has arrived to a support zone at 1.535, and formed the hammer pattern on the daily chart on the last day of the week. Here the price can break this support and fall to the next support around 1.5, or the price will turn around and continue the sideway moves between 1.535 and 1.575
Potential continuation toward the low end of the range #forexOn the break of this trendline eur/cad could continue down to the low end of the range (large rectangle). As long as it remains below the down trendline, I think it will eventually get to 1.5300 and maybe beyond. Rate of change breaking down would also be a sign the lower prices could be on their way
EURCAD: Diagonal pattern is over,
The pattern has finished in the range of 1.5461, the first confirmation for the buy order will be received when, the price crosses the range of 1.5592 . Also by crossing the price from the range of 1.5310, this analysis will be violated. The potential volume of target for the uptrend is too high and around 500 pips.
EUR/CAD could move UP!Hey tradomaniacs,
Euro getting stronger as expected!
Next opportunity I see is that EUR/CAD could retrace back to its current Trendline if we see momentum above the resistance of the support-zone👉
The market, especially stocks and indicies are very choppy and boring to watch, which is why taking trades in this enviroment involves higher risk!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
EURCAD: Diagonal pattern in the weekly chartEURCAD: Diagonal pattern in the weekly chart, Triangle pattern in the daily chart
( Weekly Chart )
In the weekly chart, the largest waves have a triple structure, so monitoring the charts shows the end of the chart is in a form of 3-wave pattern that starts from the range of 1.2129. According to these explanations, the price is forming an Ending Diagonal pattern in this time frame. In continuation, we will study the daily chart and the details of the movement.
( Daily Chart )
In the daily chart, the price is in the final wave of the Diagonal pattern, of which the B wave is forming the triangle pattern, and the movement is terminating. The uptrend formation and the end of the Triangle pattern can be confirmed by crossing the price from the range of 1.5785.
But the main point can be seen in the 240-minute chart, in this chart at the end of the E wave the Diagonal pattern is being formed. By crossing the price from the range of 1.5600 we can get the early confirmation to enter the completion of the Triangle pattern with targets of 1.6250 to 1.6300.
📢EUR/CAD SHORT. Potential intraday setup 🚨Hello traders 👨💻
This pair is looking bearish, if we can get a correction to the highlighted area I will enter a short on a lower timeframe with great R/R. This pair is on the watchlist 👀👀 I hope you like the analysis, if you do please drop a like or leave a comment, I love all the feed back 💯 💙